Piraeus Financial Holdings Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Piraeus Financial Holdings (ATH:TPEIR) Second Quarter 2024 Results

Key Financial Results

• Revenue: €683.0m (up 256% from 2Q 2023).
• Net income: €330.0m (up 175% from 2Q 2023).
• Profit margin: 48% (down from 63% in 2Q 2023).
• EPS: €0.25 (up from €0.096 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Piraeus Financial Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) missed analyst estimates by 59%.

Looking ahead, revenue is expected to decline by 4.0% p.a. on average during the next 3 years, while revenues in the Banks industry in Greece are expected to grow by 3.8%.

Performance of the Greek Banks industry.

The company's shares are up 5.9% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Piraeus Financial Holdings (of which 1 doesn't sit too well with us!) you should know about.

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